Qatar is continuing its overseas buying spree, snapping up a stake in Royal Dutch Shell and reportedly also eyeing a chunk of Italian oil major Eni. A Shell spokeswoman confirmed that Qatar had bought a stake but declined to say how large. The Middle East Economic Survey had reported earlier that Qatar’s sovereign wealth fund was in [...]
Iran has discovered a big oil field on its part of the Caspian Sea, Mehr reported. Early reports indicate that the newly discovered oil field contains from 8 to 10 billion barrels of oil. Iran’s oil minister Rostam Qasemi will reportedly make an official announcement on this discovery later. In 2011, Iran discovered a natural [...]
An International Atomic Energy Agency (IAEA) official believed to be part of a nuclear inspection team working in Iran was killed in a car accident, Iranian media reported on Tuesday. The South Korean national was travelling with another South Korean official near Arak heavy water plant at midday local time when their car skidded and rolled over, Fars News [...]
Iran said on Friday it will never suspend its uranium enrichment programme and sees no reason to close the Fordow underground site, making clear Tehran’s red lines in nuclear talks with world powers later this month. Last month a senior U.S. official said the United States and its allies would demand that Iran halt higher-grade [...]
The UAE’s strategic oil pipeline for bypassing the Strait of Hormuz is complete and exports are expected to start within three months, UAE Oil Minister Mohammed al-Hamli said on Thursday. Initially operating at a rate of 1.4 million barrels per day (bpd), the pipeline should offer the Gulf producer an alternative route out of the [...]
Iran’s state-run oil company is denying that China and Japan had sharply cut imports of Iranian crude, maintaining Tehran’s assertions that economic sanctions imposed by the West were having little effect. Mohsen Qamsari, international affairs director of the National Iranian Oil Co, told the Mehr news agency that exports to China “have not decreased at [...]
Iran announced plans to develop Forouzan oil field, the biggest joint oil field with Saudi Arabia in the Persian Gulf. The National Iranian Oil Company (NIOC) started developing Iran’s biggest offshore oil field in the Persian Gulf which is shared with Saudi Arabia. The operation has begun by sending the first jacket related to the [...]
The Iraqi oil ministry is still considering whether to allow Exxon Mobil Corporation to bid in a new Iraqi energy licensing auction, lifting a ban that was imposed on the U.S. giant because of the deal it struck with the country’s semi-autonomous Kurdistan region, Iraqi oil minister said Thursday. “We are going to discuss this [...]
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